Minister of Energy Udaya Gammanpila says the government is hoping to sign an agreement for the establishment of the Trinco Petroleum Terminal (Pvt) Ltd. within the next week.
Speaking during the weekly Cabinet media briefing today, Minister Udaya Gammanpila said the Cabinet approval for the project was granted only yesterday.
He said through the agreement, the government will be able to retake 85 oil tanks previously given to India.
The Energy Minister said only 14 oil tanks will be given to India through the agreement.
He claimed previous governments had agreed to hand over the entire Trincomalee Oil Tank Complex to India.